A number of years ago, Billy Crystal starred in a movie called City Slickers about 3 people that lived and worked in New York City going out west to be Cowboys. In the movie, Jack Palance who is the trail boss says the Secret of LIfe is to do one thing. You have to live your life to figure out what the one thing is.

If you ever seen Dave Ramsay on TV or YouTube you would know he offers advice: much of it good advice. In one of his shows: he offered from a survey of millionaires how did they get to the point they were at? There were 5 things:

1. Have a written plan or budget – know what you spend your money on. It is hard to make choices if the answer is it goes.
2. Get out of Debt. Try not to pay Mastercard and VISA interest.
3. Live on Less than You Make.
4. Have Savings – this is the key and regularly invest the savings. In the future compound interest will do most of the work
5. Be Generous because you can be.

In terms of the debt particularly customer debt, Warren Buffett says own shares in the credit card companies, try not to pay the credit companies. (Full disclosure, through both indirectly and directly, the writer owns shares in the companies and they have done well for the past few years)

Linking to dividend paying stocks, Dave Ramsay has many things to say, including take your time to make your big purchases. Many people worry about a dollar difference, but make quick decisions on the items that cost you the most – buying a home or a vehicle. Take your time, do your homework or research and then make a decision. If you buy a dividend stock, taking your time is to earn a dividend and very often a capital gain over a period of time. Low risk, high reward.

There are more questions than answers, till the next time – to raising questions.